According to a report by Cuba’s Ministry of Communications (MINCOM), due to the US hostile policy, the damages and economic losses to the branch exceed 65,493,000 dollars from April to December 2020.
In the last five years, the Cuban government, hand in hand with the Cuban Telecommunications Company (ETECSA), has brought about changes in terms of connectivity, the massive use of Information and Communication Technologies (ICT), Internet access and the digitalization of processes, among other services.
However, the company recorded a loss of 64,983,900 US dollars in losses due to the US blockade, which represents approximately 99 percent of the total amount of damages to MINCOM’s system.
According to the briefing, this is influenced by the limited supply of technologies and equipment produced under license or using US components, which implies purchases in other markets much further away.
In addition, there are monetary-financial damages caused fundamentally by the exchange variations and the prohibition to the Banks to carry out transactions with Cuba.